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GAAPs in Indian regulation

Written By Administrator on Saturday, August 20, 2011
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  • American Depository Shares (ADS) of Satyam Computer Services are going to make an exit from the New York Stock Exchange (NYSE) in the next seven months
  • The new management failed to become ‘current' as per US GAAP (Generally Accepted Accounting Principles), although it became current as per Indian accounting norms.
  • The survival of Satyam Computer Services and its rebirth in the form of Mahindra Satyam is a unique experiment on how life can be resuscitated into companies that have all but slipped into a coma. But that is not enough. The Government should also use this context to create a strong mechanism to protect investors.
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